Tesla Motors Inc. (TSLA) Rating Increased to Buy at Vetr Inc.
Tesla Motors Inc. (NASDAQ:TSLA) was upgraded by Vetr from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $212.01 target price on the electric vehicle producer’s stock. Vetr‘s target price indicates a potential upside of 7.83% from the stock’s current price.
A number of other equities analysts also recently issued reports on TSLA. Zacks Investment Research downgraded Tesla Motors from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Piper Jaffray Cos. initiated coverage on Tesla Motors in a report on Thursday, June 9th. They issued a “neutral” rating and a $223.00 price objective for the company. Pacific Crest reiterated a “hold” rating and issued a $212.00 price objective on shares of Tesla Motors in a report on Monday, June 13th. Global Equities Research reiterated a “buy” rating and issued a $385.00 price objective on shares of Tesla Motors in a report on Monday, June 13th. Finally, Oppenheimer Holdings Inc. downgraded Tesla Motors from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $264.75 to $195.00 in a report on Wednesday, June 22nd. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $246.32.
Tesla Motors (NASDAQ:TSLA) opened at 196.61 on Thursday. Tesla Motors has a one year low of $141.05 and a one year high of $269.34. The company has a 50 day moving average of $207.24 and a 200-day moving average of $221.71. The stock’s market capitalization is $29.23 billion.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. The firm earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tesla Motors had a negative return on equity of 46.30% and a negative net margin of 24.64%. Tesla Motors’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.48) EPS. Equities research analysts predict that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in TSLA. Motley Fool Wealth Management LLC increased its position in Tesla Motors by 1.9% in the first quarter. Motley Fool Wealth Management LLC now owns 45,644 shares of the electric vehicle producer’s stock valued at $10,488,000 after buying an additional 873 shares in the last quarter. Quadrature Capital Ltd bought a new position in Tesla Motors during the first quarter valued at $13,779,000. Gardner Lewis Asset Management L P increased its position in Tesla Motors by 1.7% in the first quarter. Gardner Lewis Asset Management L P now owns 5,275 shares of the electric vehicle producer’s stock valued at $1,212,000 after buying an additional 90 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Tesla Motors during the first quarter valued at $184,000. Finally, Ancora Inverness LLC increased its position in Tesla Motors by 21.1% in the first quarter. Ancora Inverness LLC now owns 1,175 shares of the electric vehicle producer’s stock valued at $270,000 after buying an additional 205 shares in the last quarter. 66.62% of the stock is currently owned by hedge funds and other institutional investors.
Tesla Motors Company Profile
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
To view Vetr’s full report, visit Vetr’s official website.
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